Ethereum network activity surged nearly 45% in recent weeks, with daily transaction counts climbing to approximately 870,000 from roughly 600,000 in late December. The increase reflects growing engagement across decentralized applications and DeFi protocols while ETH consolidates above $3,200.
What Happened: Transaction Surge
The expansion in Ethereum network activity began on Dec. 29, when daily total transfer counts reached approximately 1.06 million transactions. Activity has remained elevated since then, fluctuating near the 900,000 level rather than reverting to previous baselines, according to CryptoOnchain analysis using CryptoQuant data.
The 7-day moving average of total transfer counts now stands at approximately 870,000 transactions.
This persistence suggests the spike was not driven by a single event but marks a structural shift in network usage.
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Why It Matters: Network Health
Rising transaction volume indicates network health and organic demand, particularly during consolidation phases when price-driven speculation recedes.
Increased activity implies stronger demand for ETH as a utility asset since it is required to pay gas fees and interact with protocols.
Ethereum currently trades just above $3,200, with the 50-week and 100-week moving averages converging near the $3,300–$3,500 region. A reclaim of $3,500 could favor a renewed push toward higher levels, while a loss of $3,200 might expose ETH to a retracement toward the $2,800–$3,000 demand zone.
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